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Carlo Ancelotti is understood to be top of Manchester City's managerial shortlist, should Pellegrini be relieved from his duties at the end of the season.
The Telegraph reports that Pellegrini's spell at City could be limited till the end of the current campaign, should he fail to retain the Premier League title.
Pellegrini guided City to the League Cup and Premier League crown in his first season in charge.
Written by Sri Aswin
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